Commercial Bank of Kuwait names new chairman

Kuwait, April 30, 2012

Commercial Bank of Kuwait (CBK), the Gulf state's fourth largest lender, has named Ali Al-Moussa as its new chairman, the company said in a statement posted on the bourse website on Monday.

In February CBK reported a sharp drop in full-year net profit and trading in its stock had been suspended until after the bank's annual general meeting, held on Sunday.

Kuwait Stock Exchange halted trading in CBK earlier this month until the bank holds its AGM. Shares of several other companies in Kuwait have also been suspended after firms were unable to report earnings on time. – Reuters